27 August 2024 : PIB Summary For UPSC

1. New Bioeconomy policy rolled out by the central government is set to place India as a global leader

(Source – https://pib.gov.in/PressReleseDetail.aspx?PRID=2048873)

Topic: GS2 – Governance

Context

India’s biotechnology sector has witnessed unprecedented growth, driving economic expansion and innovation. With the introduction of the BioE3 policy, the government aims to further boost this momentum, leveraging biotechnology to address global challenges such as climate change, sustainability, and job creation, marking a significant shift in India’s industrial landscape.

Introduction

• The BioE3 (Biotechnology for Economy, Employment, and Environment) Policy, recently launched by the central government, aims to transform India into a global biotech powerhouse.
• By focusing on sustainable bio-manufacturing, innovation, and employment generation, this policy positions India to lead in the bioeconomy and 4th Industrial Revolution.

Growth of India’s Bioeconomy

• Remarkable Surge: India’s bioeconomy has grown from $10 billion in 2014 to $130 billion in 2024, with a projected value of $300 billion by 2030.
• Economic Impact: The BioE3 policy will reignite growth and position India at the forefront of the 4th Industrial Revolution, contributing significantly to the ‘Make in India’ initiative.

Key Focus Areas

1. Transition to Bio-Based Economy:
   • Shift from traditional chemical-based industries to sustainable bio-based models.
2. Circular Bioeconomy:
   • Promotes recycling and waste reduction through biomass utilisation, reducing carbon footprints.
3. Climate Action:
   • Aims for net-zero carbon emissions through innovative waste management, such as biomass, landfills, and greenhouse gases.
4. Ethical Biosafety:
   • Emphasises global regulatory harmonisation and aligning with international standards for safety.

Innovation and Infrastructure

• Bio Manufacturing Hubs:
  • Establishes hubs for large-scale production and commercialization of bio-based products, such as mRNA vaccines.
• Bio-AI Hubs:
  • Integrates artificial intelligence to analyse biological data, fostering innovation in gene therapies and food processing.

Employment Generation

• Focus on Tier-II and Tier-III Cities:
  • Bio manufacturing hubs will be established in smaller cities, creating jobs and boosting local economies by utilising local biomass resources.

Conclusion

• The BioE3 policy is a game changer, fostering sustainable economic growth and environmental stewardship.
• With its focus on bio-based industries, innovation, and job creation, it not only contributes to India’s ‘Make in India’ initiative but also drives the nation’s vision of becoming a developed and sustainable global leader.

PYQ: How can biotechnology improve the living standards of farmers? (250 words/15m) (UPSC CSE (M) GS-3 2019)

Practice Question:  Discuss the significance of India’s BioE3 Policy in fostering economic growth, innovation, and sustainability within the biotechnology sector. (250 Words /15 marks)